MGCR 382 Chapter Notes - Chapter 1: Free Trade Areas In Europe, Post-Soviet States, European Debt Crisis

• School: McGill University
• Department: Management Core
• Course: MGCR 382
• Professor: John Saba

Document Summary

The countries of western europe make up 2nd part of the triad, and are among the most prosperous countries. Reduced barriers to trade and investment among themselves to achieve prosperity. They are democracies politically with mixed economies. Eurozone (17 eu members has replaced their currency with a common currency, the euro) Are considered rich by the world bank and are mixed economies, and constitute the european free trade area (efta) A leading exporter of machinery, vehicles, chemicals, household equipment. Germany rates the highest scores for business sophistication. Germany runs tight operations, boasting strong international distribution, and the world"s 3td most sophisticated production lines. Significant demographic challenges, (low fertility rate, declining net immigration pressure the country"s welfare system) The modernization and integration of the formerly communist eastern. Germany continues to be a costly long-term process. Germany"s medium-term recovery prospects are clouded by the eurozone crisis, tighter credit markets, rising public debt.